dx.exchange, due to launch next month, is the first crypto exchange operated by NASDAQ.
“The advantage of this cooperation is threefold: the brand name, the technology and the regulations,” said DX Exchange CEO Daniel Skowronski, commenting on the topic exclusively to Finance Magnates.
With years of experience in providing user-friendly and simplified derivatives trading for the mass market, the team behind DX Exchange has now embraced cryptocurrencies into the simple trading arena that can be enjoyed by everyone.
To enable customers to choose their coin, DX offers users several options for crypto currency trading. It also provides management of client funds and deposits.
Various token options are available to customers for trading: Bitcoin, Bitcoin Cash, Ethereum and Litecoin. The exchange can offer them in trade against the traditional currency. Customers can earn the Fiat currency by exchanging their digital token via the DX exchange.
On the regulatory side, Skowronski stated that working with NASDAQ ensures compliance with the highest regulatory standards, avoiding common errors and bugs, such as double counting, and generally avoiding fake volumes.
DX.Exchange is the first full crypto community to offer institutions and individuals a transparent, “what you see is what you get” platform for buying crypto currencies with FIAT, trading crypto currencies and converting crypto back to FIAT. There are no trading fees for LITE accounts on the DX Exchange platforms, only a monthly fee of 10 euros that will attract traders around the world.
The aforementioned standards include a recently acquired Estonian license and a market maker license from the Cypriot regulatory authority CySEC. This enables DX to offer its customers the full range of crypto trading options and to hold customer funds and deposits.
Security and hacking protections is another major feature of crypto exchanges, as we seen in numerous cases. This problem will also be addressed properly with the help of NASDAQ’s infrastructure, and Skowronski aims to hire the best experts in the cybersecurity to avoid hacks and other malicious attacks.
“People are looking for security and safety. We’re trying to be very clear so that the customers will know what they are getting”.
US customers are excluded from the platform at this time. However, management is currently in dialogue with the US regulatory authorities to secure a federal license.
Crypto-friendly CEO
In the interview with CNN earlier this month, Nasdaq CEO Mrs. Friedman offered optimism regarding the future of cryptocurrencies, stating
“Do I think digital currency plays a role in the economy of the future, I think the answer is probably yes.” Mrs. Friedman added, “How it evolves and which of the cryptocurrencies may or may not be the one that ultimately gets embraced, I think that really the jury is still out on that.”
“But I do think the idea of a more globalized payments mechanism that’s more efficient than what we have today, that allows money to transfer cross country, and […] support[s] the internet economy,” said Mrs. Friedman. “It feels like it’s the right next step in the space of currency”
